UpStox is a popular trading platform that allows traders to trade commodities, equities, and currencies.
However, UpStox is not the only player in the market, and several others are emerging in the field of online trading, offering better services, lesser spreads, and seamless trading opportunities.
The upcoming online platforms make sure that the fee you pay to trade is minimal and your profits are maximum.
We will also be comparing the margin each alternative offers to Upstox, and understand how much you can borrow from the platforms to start trading/investing in the financial market.
Upstox offers a margin on intraday positions of 50% applicable VAR + 20% of the trade value for equities.
The same for F&O is 50% on SPAN + any exposure.
Let us talk about the best UpStox alternatives in India.
Zerodha is the biggest trading platform in India that allows you to invest in stocks, F&O derivatives, Bonds, Commodities and many other investment instruments.
They are one of the largest stockbrokers in India, with over 7.5 million clients contributing to more than 15 percent of total retail order volume.
From bonds, government securities, futures, options to currency trading – you can do it all on this platform!
According to the National Stock Exchange, Zerodha has the largest active client base.
This makes the platform a reliable and reputable place to start your trading journey with.
The platform also has a section called Zerodha Universe. This section focuses and is fully dedicated to an ecosystem of investment apps that work according to your specific needs.
They offer complete price transparency along with an open market education system.
Hence, they not only help you place successful trade orders but teach you how to!
And if you’re looking for a brokerage that allows you to short a stock in India, Zerodha is the best option.
What makes Zerodha an ideal Upstox alternative?
- Offers open and free-market education
- Makes up of modern-day platforms and applications
- Does not charge anything for investments
- Awarded by the Economic Times
- One of the topmost retail brokers in India
Zerodha does not provide any margin for equity delivery. However, it provides up to 6.66 times the margin based on the stock you are trading. Equity future margin for intraday stands at 75% of the trade value. Whereas, equity options margin carries forward 100% of the total margin (span + exposure).
The fee for direct mutual funds and equity delivery is absolutely free. However, a minimal charge of Rs. 20 is taken for intraday trading and futures and options.
Groww is another online trading platform that enables you to invest and trade stocks, IPOs, mutual funds, FDs, futures & options, and even U.S. stocks. The platform does not ask for even a single rupee while opening your stock account, and the maintenance is for free as well.
Groww has a clientele of over 20 million. People across India and the platform uses cutting-edge technology to make sure that all client information is secure.
Our favorite part about investing with Groww is the exposure it provides its traders and investors with, in the U.S. stocks.
From Apple to Alphabet, you can now expand your portfolio to the U.S. companies and benefit from trading the largest corporations in the whole world.
The platform provides its traders with all the necessary charts for the assets, their performance over the period, high price, low price, and your entry price along with the lot you hold currently. The simple user interface makes your trading experience with Groww even better!
What makes Groww an ideal Upstox alternative?
- No fixed charges
- No hidden charges
- It gives you exposure to U.S. stocks
- Minimal fee for intraday trading, delivery, and F&0
- Allows physical delivery of derivatives
- Includes blogs and articles to educate the clientele about various trading rules and techniques
With Groww, you can buy stocks for as low as 15% of the total trade value.
There is no account opening or AMC fee involved. The brokerage charge for equities is either Rs. 20 or 0.05% of the executed order, whichever is lower.
Previously known as Angel Broking, Angel One is a zero-brokerage equity delivery trade platform.
It also offers traders the option to trade in the F&O, commodities, and currencies markets with an easy signup process. They have been in the industry for over 25 years snow, and help traders with a seamless digital platform that is responsible for making successful trades in real-time.
Angel One offers several tools and other platforms to their traders to make sure that they do not miss out on anything in the financial market.
One such tool of theirs is the ARQ prime, which is a rule-based investment engine and provides traders with the relevant recommendations.
It helps traders make solid trade decisions by scanning all stocks available in the market.
Lastly, the website is equipped with study materials, tools, techniques, and several calculators that help you in calculating everything around your financials.
It would be right to say that Angel One has equipped themselves with everything a beginner, intermediate or expert trader needs to excel in the financial market.
What makes Angel One an ideal Upstox alternative?
- Smart Money tool helping traders learn more about the stock market and investment niche.
- Multiple content formats to suit every trade to grow in the stock market.
- ARQ recommendation system
- Instant account opening process
- High security with respect to the trader’s information
- Proactive support team
Angel One provides up to 3 times the trade value margin with an interest of 24% per year on equity delivery. The same for equity intraday is 10 times the trade value. Equity futures are 4 times the trade value, and equity options are 3 times the trade value for shorting.
Angel One does not charge anything on equity delivery trades, however, has a fee of Rs 20 per lot on other assets.
5Paisa is another player in the online trading market that helps you to trade the financial market without any commissions in a matter of just 5 minutes.
They have over 2 million customers, along with 10 million app users who regularly trade the stock market through the platform.
The website itself offers a pool of articles and blogs on the current market news that helps you in making profitable trade decisions.
Their market live segment provides you with stock price updates throughout the day along with any price changes that have occurred beforehand.
The hassle-free online trading is absolutely paperless and allows you to invest in different asset classes under one roof itself.
What makes 5paisa an ideal Upstox alternative?
- The platform offers a pool of assets to invest in, like IPOs, mutual funds, stocks, derivatives, U.S. stocks, gold, currencies, commodities, and more.
- Has simplified courses on the platform to make you a better trader
- Updates you constantly about the market
- Flat and simple fee structure for all orders
- An entire section dedicated to educational material for beginner, intermediate and expert traders
5paisa offers 10 times the margin on intraday trading with options when writing on expiry and 5 times the trade value on normal trading days. Delivery trading contracts are given according to span + exposure.
Flat brokerage of Rs. 20 per order.
Sharekhan is an online trading platform allowing you to trade the asset of your choice. It takes care of all your investment needs, from mutual funds, currency, commodity and cash trading, portfolio management, IPO financing, leverage products, to investment advisory products.
They also have an in-house trading innovation team that works day in and out to make your trading experience better and seamless. The clientele of the platform is over 25 lakh users equipped with over 750 service managers, 3000+ Sharekhan centers, and a presence in over 600 cities.
Sharekhan is not just an automated online trading system but involves real people who care about the financial decisions you make. Sharekhan’s human network understands your financial needs and goals and helps you stay right at the top of your investment game.
They alert you during significant price moves and any other investment or trading-related query that you may have. They also offer community programs that help you enhance your investment experience and interact with different sets of investors and traders and learn from their experience .
Knowledge events, quarterly sessions, and monthly online meet-ups are what sets Sharekhan apart from its peers!
When you decide to trade with Sharekhan, you also decide to link yourself with the ever most powerful BNP Paribas group, which is a top European bank with a global presence and net annual income of over 7 billion euros.
Their presence in India dates to over 16 decades, and it only makes sense to trust the brands associated with them.
What makes Sharekhan an ideal Upstox alternative?
- Focuses on the Q square mutual fund research philosophy, POP technical research philosophy, 3R fundamental research philosophy
- In-house teacher-led learning programs
- Offers a 3-month boarding program for capital investors
Sharekhan gives 5 times the margin for delivery.
Sharekhan charges 0.5% or 10 paise per share for equities. F&O trades are charged 0.10% and options 2.5% per lot.
ICICI Direct is one of India’s leading online trading platforms that over 50 lakh customers trust.
It helps you sell and buy stocks within minutes and seamlessly convert them into liquid cash.
They are the largest retail brokers and have been in the market for over 2 decades, making them completely reliable. From ETFs, F&Os, derivatives, mutual funds, equities to options currency, commodities, and so much more – you can trade everything under one single roof.
They allow you to open a trading account for free in easy steps in under 10 minutes with any bank that you are linked to. This enables you to open a wealth account, NRI account, or a normal trading account as you please.
The ICICI group backs it to make sure that you have nothing but a seamless trading experience.
They also offer services like margin funding at only 8.9% per annum. ICICI Direct’s online calculator system is everything that you need to fulfill your financial needs by calculating all that you have invested and how much you are making on the same.
Not only that, but it also includes specialty calculators for SIP, Simple interest calculation, compound interest calculations, home loan EMI calculation, CAGR calculation, EBITDA margin calculation and so much more.
Basically, you can now calculate every single financial aspect in your life through this feature of ICICI Direct!
What makes ICICI Direct an ideal Upstox alternative?
- Offers over 50 products in the market
- Hassle-free electronic trading
- Experience and expertise in the industry
- Other services like wealth management, loans, NPS, and more
- It also offers research-based products
ICICI Direct provides a 15 percent margin for stock trading.
ICICI Direct’s fee for equity intraday trading is 0.275%, and futures is 0.05% of the lot. Equity options are charged Rs 95 per lot and currency futures Rs 20 per order.
Edelweiss is one of the largest full-service stockbrokers in the country and has been in the market since 2006. They do not charge any account opening fees, and all client and trade information is secured with the platform.
The first-year annual maintenance charges for your Demat account are also waived . Hence, it is one of the top choices for all investors. It is available on phones, laptops, tablets, and even desktops.
Using the platform firsthand has taught us how Edelweiss’ support team is available for you round the clock and helps you invest step by step.
They help you in making small trades, first, taking you to the bigger ones slowly and gradually. With this platform, you can find out whatever is happening in the stock market in real-time to make trade decisions accordingly.
They have a dedicated section for letting you know about the top mutual funds you can invest in.
It also provides you with all the insights that you need like the percentage change in one year, AUMs, returns, peer funds, and more.
Hence, Edelweiss surely takes care of not only your trading needs but long-term investment goals as well!
What makes Edelweiss an ideal Upstox alternative?
- It generates research reports that help you place successful orders.
- One of the oldest and most popular trading platforms to exist
- Prevents all unauthorized transactions
- Simple and user-friendly interface
- Caters to all sorts of investors
Edelweiss provides 10 times the trade value as margin for equity delivery, and up to 40 times for equity interest and futures.
Edelweiss charges Rs. 10 per trade as a brokerage. Further, the plan you choose with the platform calculates the percentage you will be charged as trading fees.
You can choose the trading platform that suits you and your trading choices the best and try it out through the demo accounts since most of them do not have any account opening fee involved!
We recommend starting with Zerodha and then moving forward with other options “if” it doesn’t suit your trading and investment requirements.